taxable income for the mets fan who caught it? I think thats crap all the way!! I can't see why they might consider it taxable if he doesnt sell it.
2007-08-08 20:11:38 · 12 answers · asked by Anonymous in Entertainment & Music ➔ Polls & Surveys
oh yeah, if i spelled taxable wrong, cut me some slack, i am a terrible speller
2007-08-08 20:12:30 · update #1
Cause the IRS can tax anything surprisingly they have yet to tax air I mean they tax food and water and you spelled taxable right
2007-08-08 20:14:55 · answer #1 · answered by Kentucky Fried Chicken 3 · 2⤊ 0⤋
They will not tax him UNLESS he sells the ball for a profit but not before. The IRS is simply telling him that if he sells the ball for a profit this will be considered income and taxed appropriately. Now... to this end, he could sell the ball and then from the amount he receives he could deduct the cost of the ticket to the game, the gas to get there and back, the cost of sale (auction fees and such), storage fees, display case fees, authinication cost, etc. However, since the price he can get for it will probably exceed $400,000 the amount he can deduct will be pennies on the dollar so those deductions won't really add up to much. But again, he can't be taxed until he actually sells the ball or if he uses the ball as collateral in a loan (for he then declared the ball as valuable income). I wouldn't say that taxation is out of conrol, but the fact that ANYONE would pay over $14 for a baseball is out of control. Just my thoughts!
2016-05-17 12:11:10 · answer #2 · answered by ? 3 · 0⤊ 0⤋
The IRS and lawyers are the most hated people on the face of the earth. They just want your money.
If someone gave you a sweater and you decided to sell it, would it be taxable? I don't think so. So why selling a baseball is considered taxable unless they are in the business of selling. This is the worst commie country at its best.
I don't think it's fair.
2007-08-08 20:18:18 · answer #3 · answered by Anonymous · 2⤊ 0⤋
Don't see how they can figure it taxable income if he doesn't sell it.
But then you know the IRS they's steal the gold fillings out of their own mother's teeth.
2007-08-08 21:20:18 · answer #4 · answered by JUAN FRAN$$$ 7 · 1⤊ 0⤋
I think its Bullsh*T. The government can spend Billions upon Billions of dollars fighting a war that should have been finished whan they invaded Kuwait and now they want to tax a baseball? If he sell it then sure its fair game..play ball but if he keeps it then its only worth what he thinks its worth and thats one hell of a story! PS don't sweat your spelling if they get upset because you spelled one word wrong then its there problem and not yours! take care
2007-08-08 20:18:10 · answer #5 · answered by Anonymous · 2⤊ 0⤋
It is unbelievable and unfair.
It's not something he won or bought.... the government is regawddamndiculous!!
I love the part from Armageddon where when the guys were stating what they wanted from the government and they all agreed that they never wanted to pay taxes...ever!
that was cool.
2007-08-09 01:54:57 · answer #6 · answered by Anonymous · 1⤊ 0⤋
I would assume it can only be taxable income if he sells it.
2007-08-08 20:14:02 · answer #7 · answered by Jim 7 · 1⤊ 1⤋
They will take 1/3 of all of our balls.
2007-08-09 03:37:23 · answer #8 · answered by Anonymous · 1⤊ 0⤋
No the IRS sucks.
2007-08-08 20:13:41 · answer #9 · answered by Steven C 7 · 2⤊ 0⤋
That's just wrong.
2007-08-08 20:14:43 · answer #10 · answered by Georgie 7 · 1⤊ 0⤋